I wonder if it’s ever been tried and, if so, how those economies and populations are doing as compared to the exploitive systems that Microsoft and FAANG workers are forced to endure.

Yes, communalism (that's the name, for those who were wondering) has been tried. In the USA, the Hutterites are one such example. They are generally regarded as doing very well economically.

The more interesting question is: Can communalism work without the community having a deep attachment to the idea? The Hutterites achieve that through religion, but if you threw a group of random people together into a similar economic situation without some kind of strong belief system would they endure or would it quickly devolve back to what we see in the broader economy?